05 April 2020 – GHS600 million soft loan scheme announced with a two-year repayment plan for micro, small, and medium-sized businesses

Type of Intervention: Specific Action
Sectors Involved: Finance/Economy, Private Sector and Businesses
Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National
Lead People/Agency: Government, National Board for Small Scale Industries (NBSSI), Business & Trade Associations and selected Commercial and Rural Banks

Overview: The government has put in place a GHS600 million soft loan scheme with a two-year repayment plan for micro, small and medium scale businesses.
Persons who access these loans will have a one-year grace period before beginning repayment.

Full details here: https://builtaccounting.com/government-avails-ghs600m-soft-loan-scheme-for-small-businesses/

Other links: 1
Type of Justification: Advice of INTERNAL government advisory committee or group
Source of Evidence or Justification: National – government
Evidence/Justification: Due to the partial lockdown, most businesses in major economic hubs have been inactive during the period.Only persons and establishments working within the food value chain have been allowed to operate.There is therefore the need to cushion small businesses